Lorenzo A. Preve. Professional and Academic Appointments

Transcripción

1 Lorenzo A. Preve Finance Department IAE Business School Universidad Austral CC N 49 Pilar, B1629WWA Province of Buenos Aires Argentina Edificio Profesores 1 st Floor, Office # 103 Tel: (54-230) LPreve@iae.edu.ar Blog: Web: Last Updated: April 18, 2017 Education PhD in Finance University of Texas at Austin (Austin, TX USA) Executive MBA IAE Business School, Universidad Austral (Buenos Aires Argentina) BA at UCA (Buenos Aires Argentina) Professional and Academic Appointments 2016 Member of the Board Grupo Dietrich 2016 Member of the Risk Management ROFEX/Argentina Clearing SA 2015 Co-Founder & Managing Partner UpSide Risks. Consulting Firm Specialized in Risk Management 2013 Director, Research Center Risk and Uncertainty Management, at IAE Business School 2012 Professor, Finance Department. IAE Business School, Universidad Austral 2009 Head of the Finance Department. IAE Business School, Universidad Austral Head of the Programa de Alta Dirección (PAD). IAE Business School, Universidad Austral Member of the Teaching Improvement Team. IAE Business School, Universidad Austral Associate Professor, Finance Department. IAE Business School, Universidad Austral MBA Program, Director. IAE Business School, Universidad Austral Assistant Professor, Finance Department. IAE Business School, Universidad Austral Senior Lecturer, Finance Department. IAE Business School, Universidad Austral Financial Consultant Part-time Lecturer, Finance Department. IAE Business School, Universidad Austral Chemical Bank, Buenos Aires Branch. Capital Markets Officer Gallo Rice Group (Buenos Aires Milano). Director. Corporate Finance and Corporate Control. (Family Owned Business) Prefinex S.A. Mergers & Acquisitions Department

2 Publications Papers Trade Credit or Financial Credit? An International Study of the Choice and its Influences. (Joint with Matthew Hill, Wayne Kelly and Virginia Sarria-Allende), Emerging Markets Finance and Trade, forthcoming. Managing Talent Risk. Joint with Andrés Hatum. Harvard Deusto Business Research. Vol. 4, n 1, An Empirical Analysis of the Effect of Financial Distress on Trade Credit. Joint with Carlos A. Molina. Financial Management 41, pp Working Capital Management: An Exploratory Study (joint with Hernán Etiennot and Virginia Sarria-Allende); The Journal of Applied Finance 22, vol , pp Corporate Finance in Latin America: A Survey. Joint with Carlos Maquieira and Virginia Sarria-Allende. Emerging Markets Review, 13, vol. 2, Spring 2012, pp Corporate Valuation in Emerging Markets: a Simulation Approach (joint with Javier García-Sánchez and Virginia Sarria-Allende); Journal of Applied Corporate Finance, 22 (2), Spring 2010, pp Trade Receivables Policy of Distressed Firms and its Effect on the Cost of Financial Distress (Joint with Carlos A. Molina) Financial Management, Autumn 2009, pp Trade Credit and Bank Credit: Evidence from Recent Financial Crises (Joint with Inessa Love, and Virginia Sarria-Allende); Journal of Financial Economics 83, 2007, pp Dissertation The Use of Trade Credit Under Extreme Conditions: Financial Distress and Financial Crisis. The University of Texas at Austin. Dissertation Committee: Sheridan Titman (Chair), Andrés Almazan, Jay Hartzell, Ross Jennings, Robert Parrino, and Roberto Wessels. Books Gestión de Riesgo: Un Enfoque Estratégico Editorial TEMAS, 2 nd. edition Feb 2011, 1 st. edition March 2009 Las Finanzas en la Empresa Empresa. With Guillermo Fraile and Virginia Sarria- Allende. Editorial TEMAS, October Working Capital Management With Virginia Sarria-Allende Oxford University Press, March 2010 Technical Notes El Desafío de la Rentabilidad FZ-N-043-IA-1-s. (IAE, March 2008). La Gestión Estratégica del Riesgo Corporativo FZ-N-042-IA-1-s. (IAE, March 2008) Reestructuración Corporativa, FZ-N-040-IA-1-s. Joint with Virginia Sarria-Allende. (IAE, August 2007). 2

3 Impsat Fiber Networks, Inc. Part III Completing a Successful Case, FZ-N-041-IA-1-e (IAE July 2005) Joint with Gonzalo Alende Serra, Hernán Gomez Obligado and Florencia Paolini Impsat Fiber Networks, Inc. Part III; Completando un caso exitoso, FZ-N-041-IA-1-s (IAE July 2005) Joint with Gonzalo Alende Serra, Hernán Gomez Obligado and Florencia Paolini El Análisis por Indices, FZ-N-026-IA-1-s (IAE March 2005) La Teoría de Portfolio, FZ-N-009-IA-1-s (IAE March 2000) Introducción a la Matemática Financiera, FZ-N-072-IA-1-s (IAE January 1996) with Gabriel Noussan Análisis de las Funciones de Interés, FZ-N-073-IA-1-s (IAE January 1996) with Gabriel Noussan Cases Sotyl (B) FZ-C-207-IA-1-e (IAE February 2012). Joint with Diego Dyszel. Riesgo de Precio de Aluminio en Sudalum (A) and (B) IAE-C SP. (IAE February 2012). Joint with Diego Dyszel and Pablo Slutzky. Financiando el Crecimiento de Dipsafoods (IAE December 2011). Joint with Juan Pablo Dávila. Una Oportunidad para Perdigao? IAE-C SP (IAE August 2011). Joint with Javier, García Sanchez, Virginia Sarria Allende, Pablo Slutzky. An Opportunity for Perdigao? IAE-C EN (IAE August 2011). Joint with Javier, García Sanchez, Virginia Sarria Allende, Pablo Slutzky. Cobertura de Riesgos en Sotyl, FZ-C-207-IA-1-s (IAE April 2010). Joint with Diego Dyszel Aeropuertos del Neuquen: The Cost of Capital, FZ-C-204-IA-1-e (IAE July 2009). Joint with Martín Cors and Virginia Sarria Allende Aeropuertos del Neuquen Sociedad Anonima: El Costo del Capital, FZ-C-204-IA-1-s (IAE July 2009). Joint with Martín Cors and Virginia Sarria Allende El Riesgo de Tasas de Interés en Naturis, FZ-C-154-IA-1-s (IAE July 2008) Pierre Vincent, FZ-C-161p-IA-1-s (IAE July 2008) Stoller (B) FZ-C-158-IA-1-s (IAE January 2008) Stoller (B) Teaching Note (IAE August 2008) Stoller (A) FZ-C-157-IA-1-s (IAE January 2008) Stoller (A) Teaching Note (IAE July 2008) Reestructurando Parmalat Uruguay, FZ-C-155P-IA-1-s (IAE March 2007). Joint with Virginia Sarria Allende Don Pedro SA (A), FZ-C-142-IA-1-s (IAE March 2007). Joint with Javier García Sanchez and Soledad Acoroni. Don Pedro SA (B), FZ-C-142-IA-1-s (IAE March 2007). Joint with Javier García Sanchez. Sistemas Informáticos Florales SA (A), FZ-C-121-IA-1-s (IAE August 2006) Sistemas Informáticos Florales SA (B), FZ-C-122-IA-1-s (IAE August 2006) Sistemas Informáticos Florales SA Teaching Note (IAE August 2006) Estructuras Metálicas SA, FZ-C-100-IA-1-s (IAE December 2005). Joint with Guillermo Fraile Grupo Danone, financiando la expansión, FZ-C-088-IA-1-s (IAE July 2005). Joint with Guillermo Fraile and Florencia Paolini Milkaut, FZ-C-044-IA-1-s (IAE July 2005) Milkaut, Teaching Note (IAE July 2005) Impsat Fiber Networks, Inc. Part I, Growing Itself Broke? FZ-C-081-IA-1-e (IAE July 2005). Joint with Gonzalo Alende Serra, Hernán Gomez Obligado and Florencia Paolini 3

4 Impsat Fiber Networks, Inc. Part I, Expandiendose hacia la quiebra? FZ-C-081-IA-1-s (IAE July 2005). Joint with Gonzalo Alende Serra, Hernán Gomez Obligado and Florencia Paolini Impsat Fiber Networks, Inc. Part II, Solving the Value Issue, FZ-C-082-IA-1-e (IAE July 2005). Joint with Gonzalo Alende Serra, Hernán Gomez Obligado and Florencia Paolini Impsat Fiber Networks, Inc. Part II, Solucionando la cuestión de valor, FZ-C-082-IA-1- s (IAE July 2005). Joint with Gonzalo Alende Serra, Hernán Gomez Obligado and Florencia Paolini Autopistas del Sol SA (IAE October 2005). Joint with Martín Perez de Solay and María Eugenia Donadille Financiando el Proyecto Ausol SA (IAE October 2005). Joint with Martín Perez de Solay and María Eugenia Donadille Articles Los Riesgos Estratégicos en la industria de Servicios Financieros Informe Escaleno June Pese al Caso Enron poco se conoce sobre gestión de riesgos en la empresa La Nación February Diez Preguntas que mejorarán su Gestión de Riesgo América Economía, Dic 2014, and also published in ABC.com, Dic 2014 Reprinted in Forbes Argentina in January Planeamiento, Planeamiento? Informe Escaleno, September 2014 Instrumentos Derivados; el papel en la Transferencia de Riesgos (with Julián Cohen) ROFEX Magazine, July 2014 Con los Ojos Cerrados todos los cisnes son negros Informe Escaleno, June 2014 Los Limites al Disclosure de los Riesgos Informe Escaleno, April 2014 La Importancia de Gestionar el Riesgo de Liquidez Alzas & Bajas, September 2013 Planeamiento y Riesgo Revista de Antiguos Alumnos, IAE Business School, August 2013 Inversores Financieros Amarlos u Odiarlos? Informe Escaleno, August 2013 Riesgo Político La Madre de Todos los Riesgos? Informe Escaleno, June 2013 La Gestión de Riesgo y el Planeamiento Estratégico Informe Escaleno, June 2013 La Importancia de Gestionar los riesgos para las empresas del Agro ADBlick Agro Magazine, May 2013 La Vida Empresaria no es Independiente del Riesgo Político Conocimiento y Dirección, 88, México DF., México, May Reflexión sobre la Importancia del Mapa de Riesgo Revista de la Asociación de Egresados de INALDE, Ed. 29, pp , Bogotá, Colombia, December Recursos Humanos: como un Factor de Riesgo en la Empresa América Economía, October 27, El Desafío de la Rentabilidad Revista de Antiguos Alumnos IAE (Buenos Aires, Argentina), August 2009, pp La Gestión de Riesgo y la Crisis Financiera Internacional Revista de Antiguos Alumnos IAE (Buenos Aires, Argentina), May 2009, pp Re printed in Alzas & Bajas, Nº 114, March 2011, pg La Crisis Financiera y La Gestión de Riesgo Portafolio (Bogotá, Colombia), April 6,

5 La Gestión Estratégica del Riesgo Corporativo (part II of II) Revista de Antiguos Alumnos IAE (Buenos Aires, Argentina), September 2008, pp La Gestión Estratégica del Riesgo Corporativo (part I of II) Revista de Antiguos Alumnos IAE (Buenos Aires, Argentina), May 2008, pp Riesgo, Rentabilidad y Retenciones Diario el Cronista Comercial (Buenos Aires, Argentina), April 2008 with Virginia Sarria Allende La Rentabilidad de las Empresas Revista Noticias (Buenos Aires, Argentina), 16 de Febrero de 2008, Pags El Precio del Real Estate como Factor de Riesgo en la Empresa Reporte Inmobiliario n 162 (Buenos Aires, Argentina), January 2007 Costo de Capital en Economías Emergentes Revista de Antiguos Alumnos IAE (Buenos Aires, Argentina), Año XXIII, December 2006 with Javier García Sanchez El financiamiento de las empresas en épocas de crisis Revista de la Bolsa de Comercio de Rosario (Rosario, Argentina), April 2006, pp with Virginia Sarria Allende La Inversión Sin Querer Fronteras del Management (Buenos Aires, Argentina). November 1999 Other Blog: Risk and Uncertainty Management: Facebook Group Gestión del Riesgo e Incertidumbre: Website on Risk Management: (spanish version), and (english version under construction) El Costo de Capital en Mercados Emergentes with Soledad Acoroni, Javier García Sánchez and Virginia Sarria Allende, IAE, Universidad Austral Modelo de Análisis Discriminante Multivariante para Concesionarios (ADEFA Asociación de Fabricantes de Automotores de la Republica Argentina) with Ricardo Pascale (U. de la República ROU) ADEFA Books Work in Progress Profiting from the Upside Controlling the Downside: The Art of Risk Management Working Papers Asymmetry and the Cost of Debt. Joint with Javier García-Sanchez and Virginia Sarria-Allende Determinants of Trade Credit: Some International Evidence. Joint with Matthew Hill, Gary W. Kelly, and Virginia Sarria-Allende 5

6 Presentations at Conferences November 2016 (scheduled): Congreso Latinoamericano de Gestión Integral de Riesgos; Panamá. Hacia un Mejor Modelo de Risk Management. October 2016 (scheduled): Risk Intelligent; Costa Rica. Risk Management. October 2016 (scheduled): CIF Columbus 2016: Strategic Risk Management. August 2016 (scheduled): Expoestrategas 2016, Buenos Aires. Hacia un Mejor Modelo de Risk Management. March 2016: GARP, New York, NY; The Overlooked Importance of Non-Financial Risks September 2015: ORT Montevideo, Uruguay. Managing Talent Risk July 2014: World Finance Conference; Venice, Italy; Is Trade Credit Up or Down in the Pecking Order of Financing? An Empirical Test July 2013: World Finance Conference; Chipre; Is Trade Credit Up or Down in the Pecking Order of Financing? An Empirical Test (paper withdrawed by the authors) October 2012: FMA Meetings, Atlanta, GA; Determinants of Trade Credit: Some International Evidence (Presented by coauthor) July 2012: World Finance Conference; Rio de Janeiro, Brazil; Determinants of Trade Credit: Some International Evidence (Presented by coauthor) October 2011: FMA Meetings, Denver, CO; Corporate Finance in Latin America: A Survey (Presented by coauthor) June 2011: World Finance Conference; Rhodes, Greece; Corporate Finance in Latin America: A Survey June 2011: World Finance Conference; Rhodes, Greece; Asymmetry and the Cost of Debt April 2011: BALAS conference, Santiago de Chile, Chile; Corporate Finance in Latin America: A Survey. Joint with Carlos Maquieira and Virginia Sarria-Allende March 2011: ERM Gestión de Riesgos Corporativos (IQPC): Buenos Aires, Argentina; Keynote Speaker; Medición y Cuantificación del Riesgo October 2010: FMA Meetings, New York, NY; Risk Management at Stoller Argentina June 2010: ERM Gestión de Riesgos Corporativos (IQPC): Miami, FL; Keynote Speaker; El Mapa de Riesgo y su Incorporación al Planeamiento Estratégico May 2010: World Finance Conference; Viana do Castelo, Portugal; An Empirical Analysis of the Effect of Financial Distress on Trade Credit October 2009: FMA Meetings, Reno, NV; An Empirical Analysis of the Effect of Financial Distress on Trade Credit April 2008; Business Association of Latin American Studies; Bogotá, Colombia; Valuation in Emerging Markets: a Simulation Approach October 2007; FMA Meetings, Orlando, FL; Trade Receivables Policy of Distressed Firms and its Effect on the Cost of Financial Distress June 2006; Multinational Financial Conference, Edimburgh, UK; Trade Receivables Policy of Distressed Firms and its Effect on the Cost of Financial Distress (paper withdrawed by the authors) May 2006; Business Association for Latin American Studies Conference in Lima, Perú; Trade Receivables Policy of Distressed Firms and its Effect on the Cost of Financial Distress May 2006; Business Association for Latin American Studies Conference in Lima, Perú; The Importance of Research for Academia in Latin America (Keynote Speaker) April 2006; Global Finance Conference, Rio de Janeiro, Brazil; Trade Receivables Policy of Distressed Firms and its Effect on the Cost of Financial Distress 6

7 October 2005 FMA Meetings, Chicago IL; Trade Receivables Policy of Distressed Firms and its Effect on the Cost of Financial Distress (paper withdrawed by the authors) January 2005; Jornadas de Investigación de la Pontificia Universidad Católica de Chile, Reñaca, Chile, (presented by coauthor); Trade Receivables Policy of Distressed Firms and its Effect on the Cost of Financial Distress January 2005; Jornadas de Investigación de la Pontificia Universidad Católica de Chile, Reñaca, Chile; Trade Credit and Bank Credit: Evidence from Recent Financial Crises December 2003; Financial Market Development in Emerging and Transition Economies in Hyderabad, India; Trade Credit and Bank Credit: Evidence from Recent Financial Crises (paper withdrawed by the authors) October 2003; FMA Meetings, Denver, CO; An Empirical Analysis of the Effect of Financial Distress on Trade Credit Presentations at Seminars March 2013; Universidad de los Andes, Bogotá, Colombia; Is Trade Credit Up or Down in the Pecking Order of Financing? An Empirical Test November 2009; Universidad Torcuato Di Tella; An Empirical Analysis of the Effect of Financial Distress on Trade Credit September 2008; IAE Business School Management Research Seminar; Valuation in Emerging Markets: a Simulation Approach March 2004; University of Texas at Austin, Brown Bag Seminar Series, Finance Department; Trade Receivables Policy of Distressed Firms and its Effect on the Cost of Financial Distress March 2004; IAE Business School, Universidad Austral, Management Seminar Series; Trade Receivables Policy of Distressed Firms and its Effect on the Cost of Financial Distress September 2004; Universidad de San Andres; Trade Credit and Bank Credit: Evidence from Recent Financial Crises May 2004; Universidad Torcuato Di Tella; An Empirical Analysis of the Effect of Financial Distress on Trade Credit May 2003; University of Texas at Austin, Brown Bag Seminar Series, Finance Department; Trade Credit and Bank Credit: Evidence from Recent Financial Crises April 2003; University of Texas at San Antonio; An Empirical Analysis of the Effect of Financial Distress on Trade Credit March 2003; at IAE Business School, Universidad Austral, Management Seminar Series; An Empirical Analysis of the Effect of Financial Distress on Trade Credit April 2004; University of Texas at Austin, Brown Bag Seminar, Brown Bag Seminaries, Finance Department; An Empirical Analysis of the Effect of Financial Distress on Trade Credit April 2004; IAE Business School, Universidad Austral, Management Seminar Series; Modelo de Análisis Discriminante Multivariante para Concesionarios November 1999; Asociación de Fabricantes de Automotores (ADEFA); Modelo de Análisis Discriminante Multivariante para Concesionarios 7

8 Professional Service, Referees and Discussions Academic Boards Member of the Editorial Board, Academia RLA (Emerald) Member of the Scientific Committee at the World Finance Conference Referee Referee for the Financial Management Referee for the Journal of Banking and Finance Referee for the Journal of Financial Research Referee for the Financial Review Referee for the B.E. Journal of Macroeconomics Referee for Academia Revista Latinoamericana de Administración Referee for the International Review of Economics and Finance Referee for the Revue Finance Discussions and Session Chairs at Conferences Discussant for: Management of Exchange Rate Exposure with Hedging Activities: New Approach and Evidence; World Finance Conference ; July 2015; in Buenos Aires, Argentina Session Chair at the World Finance Conference ; July 2015; in Buenos Aires, Argentina Session Chair at the World Finance Conference ; July 2014; in Venice, Italy Discussant for: The Interrelationship between Working Capital and Profitability: a precrisis examination of the Cyprus Stock Exchange; World Finance Conference ; July 2014; in Venice Italy Session Chair at the World Finance Conference ; July 2012; in Rio de Janeiro, Brazil Discussant for Foreign Exchange Exposure and Emerging Market Multinationals: An Empirical Analysis, by Bulent Aybar, Seyda Deligonul, and Arul Thirunavukkarasu; June 2011; World Finance Conference in Rhodes, Greece. Session Chair at the World Finance Conference ; June 2011; in Rhodes, Greece Discussant for Trade Credit - Market Value - and Product Market Competition, by Matthew D Hill, G Wayne Kelly, G Brandon Lockhart, and Jim O Washam; October 2010; FMA Meetings, New York, NY. Discussant for Bank Failure in Nigeria: A Consequence of Capital Inadequacy, Lack of Transparency and Non-Performing Loans by Adeyemi Babalola; May 2010; World Finance Conference in Viana do Castelo, Portugal Discussant for What Happens after Default: Stylized Facts on Access to Credit by Diana Bonfim, Daniel Dias and Christine Richmonf; May 2010; World Finance Conference in Viana do Castelo, Portugal Discussant for Los Inversores y el Riesgo en las TIC s by Hugo Caussade and Pablo Pagani; Jornada Académica de la Unión de Exportadores del Uruguay; May, 2010; Montevideo, Uruguay. Member of the Honour Programme Committee for the World Finance Conference in Viana do Castelo, Portugal; May

9 Program Committee Member for the Business Association for Latin American Studies; Bogotá, April, Key Speaker at the Doctoral Consortium at Business Association for Latin American Studies Conference; The Importance of Research in the Academic Career; Lima, Perú, April Program Committee Member for the Global Finance Conference; April 2006 in Rio de Janeiro, Brazil Session Chair at the Global Finance Conference; April 2006 in Rio de Janeiro, Brazil Discussant for The Effect of Corporate Governance Practices on Company Market Valuation and Payout Policy in Chile by Fernando Lefort; January 2005, Jornadas de Investigación de la Pontificia Universidad Católica de Chile; Reñaca, Chile. Theses and Dissertations Dissertation Committee for María Fernanda Ferrari: Futuros de Trigo en la Argentina: razones que limitan su desarrollo, Doctoral Dissertation, Dept. of Economics, Universidad Católica Argentina. PhD in Economics Thesis Supervisor for Rodrigo E. Arias; El valor de la administración de riesgos en la cadena de suministros, Universidad Nacional del Litoral, Master 2014 Thesis Supervisor for Marcos Pizza; Gestión integral de riesgos: un estudio de caso en la empresa Aguará Guazú Importaciones S.A. del Paraguay, Universidad de la Republica, Uruguay, Master en Finanzas, 2013 Thesis Supervisor for Miguel Aguerre, Salvador Onetto y Antonio Rodriguez; Instrumentos de Cobertura Financiera en ANCAP; Universidad de Montevideo, Facultad de Ciencias Empresariales y Economía, Master en Finanzas, June Thesis Supervisor for Marcelo Sampietro, Lorena Santana and María Inés Stirling Mora; Gestión de Riesgos en Tenaris S.A.; Universidad de Montevideo, Facultad de Ciencias Empresariales y Economía, Master en Finanzas, June Thesis Supervisor for Mateo Ferriolo and Manuel Mendive; Gestión de riesgos no financieros en el negocio agrícola en Uruguay; Facultad de Ciencias Económicas y de Administración, Universidad de la República, MBA, May Thesis Supervisor for María Leticia García, Maria Inés Gomez and Anabella Yaques; Gestionando el Riesgo: Caso Práctico C.O.E.T.C.; Facultad de Ciencias Económicas y de Administración, Universidad de la República, Magister en Finanzas, February Thesis Supervisor for Paula Tedesco, Martín Gonzalez and Alberto Alves; Gestión de Riesgo en Empresas no Financieras, Trabajo Práctico en Finning Chile SA; Universidad de Montevideo, Facultad de Ciencias Empresariales y Economía, Master en Finanzas, June Thesis Supervisor for Alejandro Cuenca and Juan Voelker; Análisis de Determinantes del Estrés Financiero en Empresas Exportadoras Mediante Modelos de Simulación; Universidad de Montevideo, Facultad de Ciencias Empresariales y Economía, Master en Finanzas, June Thesis Chair for Soledad R. Acoroni: Creación de Valor por Cobertura de Riesgos. La Visión en la Industria de la Exploración y Producción de Petróleo y Gas. Master in Finance. Facultad de Ciencias Económicas y Estadística. Universidad Nacional de Rosario, April

10 Teaching At IAE, Universidad Austral Risk Management Course for Senior Management Program (PAD) at IAE Corporate Risk Management Core Course for MBA and Executive MBA Corporate Risk Management Courses at Executive Education Programs Corporate Finance Course for MBA and Executive MBA Mergers & Acquisitions Course for the MBA Corporate Finance Elective Course MBA and Executive MBA Corporate Finance Courses in the Executive Education and In-Company Programs Other Risk Management PADLA (IESE, IAE, IPADE), 2016, CDMX, Mexico. Risk Management Master en Finanzas Aplicadas, ESE, Universidad de los Andes (Santiago, Chile), Corporate Risk Management Master in Finance, Universidad de La República, (Montevideo, Uruguay); 2007, 2009, 2011, 2012, 2013, 2014, 2015, Corporate Risk Management Master in Finance, Universidad de Montevideo (Montevideo, Uruguay); 2006, 2007, 2009, 2010, 2011, 2012, 2013, 2014, 2015, Risk Management MBA, IEEM, Montevideo, Uruguay; 2014, 2015, Corporate Risk Management Enfocados de Finanzas, INALDE (Bogotá, Colombia); 2012 Risk Management Programa de Alta Dirección, INALDE (Bogotá, Colombia); 2011, 2012, 2013, 2014, and Risk Management Senior Executive Program (SEP), IESE, IAE, IPADE, 2009 and Corporate Finance Programa de Alta Dirección, INALDE (Bogotá, Colombia); 2010 International Seminar; Corporate Risk Management in Latin America; University of Texas at San Antonio, (San Antonio, TX), 2010 Elective Course in Corporate Finance in Emerging Markets Master in Business Administration, INALDE and PAD Piura (Bogotá, Colombia), 2010, 2011, 2012, 2013, and Corporate Risk Management for the Ministerio de Hacienda in Bogotá, Colombia, with INALDE (Bogotá, Colombia), 2009 Finance I course Executive MBA program Universidad Adolfo Ibañez (Santiago, Chile), 2008, 2011 Corporate Finance, Programa de Desarrollo Directivo PDD, INALDE (Bogotá, Colombia), 2009, 2010, 2011, Elective Course in Corporate Risk Management Master in Business Administration, INALDE and PAD Piura (Bogotá, Colombia), 2007, 2009, 2011, 2012 Corporate Restructuring Master in Business Administration, INALDE and PAD Piura (Bogotá, Colombia), 2012 Risk Management Executive Program in Finance, ESE, Universidad de los Andes (Santiago, Chile), 2007, 2008, 2009, Risk Management MEDEX, PAD, Universidad de Piura (Lima, Perú), 2007 Corporate Restructuring Master in Finance, Universidad de La República, (Montevideo, Uruguay); 2006, 2008, 2010,

11 Cases in Finance Master in Finance Program, Universidad Adolfo Ibañez, (Santiago and Valparaíso, Chile); 2006, 2008 Corporate Finance in Emerging Markets Master in Finance Program, Universidad de Montevideo (Montevideo, Uruguay); 2005, 2006 Corporate Finance Master in Business Administration, INALDE (Bogotá, Colombia), 2006, 2007 Corporate Restructuring Courses Executive Education, INALDE (Bogotá, Colombia); 2006, 2007 Corporate Finance Programa de Desarrollo Directivo, INALDE (Bogotá, Colombia); 2006, 2007, 2010 Corporate Restructuring Courses Executive Education, INALDE (Medellín, Colombia); 2005 Corporate Risk Management Executive Education, INALDE (Medellín, Colombia); 2005 Finance Course at the MEM (Media and Entertainment Management program) Institute for Media and Entertainment IME (New York, NY); 2004 Integrative Finance University of Texas at Austin (Austin, TX); 2003 Risk Management Course MBA Universidad de Piura (Piura, Perú); 1999 Corporate Finance Seminar Universidad de Piura (Piura, Perú); 1999 Corporate Finance Courses in Executive Education IDE (Quito, Ecuador); 1999 Corporate Finance Course Master in Law Program Universidad Austral (Buenos Aires, Argentina); Corporate Finance Course in Executive Education Universidad Austral (Buenos Aires, Argentina); Corporate Finance at UCA (Buenos Aires, Argentina); Financial Mathematics at UCA (Buenos Aires, Argentina); Distinctions and Awards Winners of the FONDECYT Scholarship for the paper Trade Receivables Policy of Distressed Firms and its Effect on the Cost of Financial Distress (joint with Carlos A. Molina). Second place in the Business Economics Category out of 34 submissions Nomination by the Finance Department of the Mc Combs School of Business for the Fred Moore Assistant Instructor Teaching Excellence Award University of Texas at Austin (March 2003) University Bruton Fellowship University of Texas at Austin (April 2003) Nomination by the Finance Department of the University of Texas at Austin for the Continuing Fellowship (February 2003) Fulbright Scholarship ( ) Magna Cum Laude at the Executive MBA at IAE (1993) Consulting (Selected representative appointments) Large Retailer, Argentina. Advisory on the FX exposure. Transportation Company, Argentina. Strategic Consulting to the Board. Gas Distribution Companies, Argentina. Estimation of the cost of capital in the renegotiation with the regulator. 11

12 Electric Utilities, Argentina. Estimation of cost of capital for the renegotiation with the regulator. Large Utility. Risk Management speech to the board Large Pharma Company. Risk Management speech to the board Large University. Help in designing the risk map Software Developer and Technology Firm. Implementation of a model that help the company to mitigate liquidity risk and design FX hedging strategies for their operation in Argentina. Large Agricultural Company operating in several countries. Implementation of a Risk Management practice. Large Service firm in the Health Care Industry. Strategic Planning Large Industrial Firm in Argentina. Risk Mapping and development of a Risk Management Structure. Large Industrial Company, Argentina. Risk Management. Political Risk. Business planning including risk. Foreign Trade Service Company, Argentina. Advisor to the Board Large Financial Services Company, Argentina. Risk Mapping Agricultural Company, Argentina. Member of the board. Risk Management. Hotel Developer, Argentina. Advising on Project Evaluation Metal mechanic Company, Argentina. Financial Analysis and Financial Policy advisory to the board Gas Distribution Companies, Argentina. Estimation of the cost of capital in the renegotiation with the regulator. Medical Equipment Supplier, Argentina, Brazil and Chile. Advising the board on their Working Capital Management Policy. Large Car Manufacturer, Argentina. Advising on Working Capital Management Policy. Large communications holding company, Buenos Aires, Argentina. Valuation of the holding company based on market information for a litigation process between shareholders. Medium-sized food company, Buenos Aires, Argentina. Corporate financial strategy. Large Retailer, Buenos Aires. Corporate financial strategy. Large Integrated Oil and Gas Company, Buenos Aires, Argentina. Development of the ex-ante and ex-post investment assessment policy. Electric Utilities, Argentina. Estimation of cost of capital for the renegotiation with the regulator. Agro-industrial Company, Buenos Aires Province, Argentina. Valuation. Industrial Company, Buenos Aires Province, Argentina. Corporate financial strategy. Advisory services for M&A activity (selling side). Industrial Company, Rovigo, Italy. Corporate financial strategy. Industrial Company, Bremen, Germany. Corporate financial strategy. Association of Car, Trucks and Bus Manufacturers, Argentina. Development of a bankruptcy prediction model for their retailers. Large Supermarket Company, Argentina. Corporate financial strategy. Industrial Company, Argentina. Valuation Service Company, Argentina. Valuation 12